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Thursday 13 June 2024

Thursday 13 June 2024

The CBUAE issues its 2023 Annual Report

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FinTech Regulatory Development

We are working tirelessly to sustain an advanced, modern, future-ready financial system across the UAE.

Common Guidance for Adopting and Enabling Technologies

The CBUAE, the Securities and Commodities Authority (SCA), the Dubai Financial Services Authority (DFSA), and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market consulted jointly on the Guidelines for Financial Institutions Adopting Enabling Technologies.

The guidelines set out principles and best practice for financial institutions when adopting enabling technologies to develop or offer new products and services.

The enabling technologies include:

  • Application Programming Interfaces

  • Big Data Analytics

  • Artificial Intelligence

  • Biometrics

  • Cloud Computing

  • Distributed Ledger Technology

The CBUAE, SCA, DFSA, and FSRA have now completed their initial consultation. The CBUAE and the participating regulators have also reviewed and consolidated the feedback provided, and are working to integrate all relevant inputs into the guidance.

Fintech

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Last updated on: Thursday 28 July 2022

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